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L&GI launches global inflation bond fund

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Legal & General Investments has launched a Global Inflation Linked Bond Index Fund.

LGI says the launch comes after advisers expressed desire to diversify the fixed income element of clients’ portfolios and protect against rising global inflation.

Legal & General Investment Management’s index funds team will manage the fund with Tim Beaven the named fund manager.

The fund will have an annual management charge of 0.2 per cent and will track the Barclays World Government ex UK Inflation Linked Bond Index.

The index is made up of inflation-linked bonds issued by governments internationally, excluding the UK.

Bonds included in the index must have a minimum A- rating within the G7 and Eurozone or minimum AA- rating for other issuers.

LGI managing director Simon Pistell says: “Global inflation-linked bonds are a useful diversification tool for investors’ portfolios with a different return profile to conventional government bonds and a significantly lower duration than index-linked gilts, which will make up the majority of most investors’ inflation-linked allocation in the UK.”

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